10-Q · May 7, 2026
In Q1 2026, TTEC reported a revenue of $496.2 million, a decrease of 7.1% from the same period in the prior year. Despite these challenges, free cash flow improved to $21.1 million, and operating cash flow increased to…
Earnings analysis · 10-Q
TTEC earnings analysis
Filed August 10, 2026 · Our reading of the company's report
The latest report
TTEC’s Q2 2026 results show continued top-line deterioration, with revenue of $455.495 million down approximately 8.2% sequentially and 11.4% year over year, while diluted EPS of $0.03 improved from losses in both…
Read full summary
TTEC’s Q2 2026 results show continued top-line deterioration, with revenue of $455.495 million down approximately 8.2% sequentially and 11.4% year over year, while diluted EPS of $0.03 improved from losses in both comparison periods but missed the $0.22 estimate. The filing provides no new quantitative guidance in the supplied MD&A text. Leverage and variable-rate exposure are material, with $855.0 million of borrowings at an approximate 6.9% rate, while FX exposure increased to 28% of six-month consolidated revenue from 23%.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.03
What stood out
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Revenue Declined Sequentially and Year Over Year
Second-quarter revenue was $455.495 million, down from $496 million in Q1 2026 and $514 million in Q2 2025, declines of approximately 8.2% sequentially and 11.4% year over year.
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EPS Improved but Missed Consensus
Diluted EPS was $0.03 versus $(0.16) in Q1 2026 and $(0.17) in Q2 2025, representing an improvement of $0.19 and $0.20, respectively, although EPS missed the $0.22 consensus estimate.
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Debt and Interest Exposure Remain Significant
TTEC had $855.0 million of outstanding borrowings under its Credit Agreement as of June 30, 2026; the borrowings carried an approximate 6.9% interest rate during the quarter.
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International Revenue Exposure Increased
The company’s foreign-exchange exposure expanded year over year: revenue associated with the disclosed FX risk represented 28% of consolidated revenue for the six months ended June 30, 2026, versus 23% in the prior-year period.
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Hedge Results Turned Negative
The company reported net losses of $0.7 million on settled cash-flow hedge contracts and related premiums for the six months ended June 30, 2026, compared with net gains of $0.5 million in the prior-year period.
What to watch
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Variable-Rate Debt and Interest Risk
Variable-rate debt creates meaningful earnings sensitivity: TTEC had $855.0 million outstanding under its Credit Agreement at June 30, 2026, and a 100-basis-point increase in Prime Rate or SOFR would add $1.0 million of annualized interest expense per $100.0 million of borrowings.
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Currency Weakness Could Pressure Margins
Foreign-exchange risk is material because 28% of consolidated revenue was associated with the disclosed FX exposure for the six months ended June 30, 2026. Management states that not all exposure can be hedged and that long-term weakening of non-functional currencies could adversely affect segment margins.
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Transformational Transactions and Retention Costs
The filing states that there were no material changes to the risk factors in the 2025 Form 10-K, but the company disclosed a retention program tied to anticipated transformational transactions in 2026-2027; participating executives received awards totaling $1.6425 million in stated cash and RSU value, excluding any unstated values for other participants.
Management's outlook
The supplied 10-Q text does not provide quantitative revenue or EPS guidance, nor does it state that the prior full-year outlook was raised, maintained, lowered, or withdrawn. Prior reported outlook was revenue of $2.005 billion-$2.055 billion and EPS of $1.06-$1.32.
Earlier filings 4
10-K · February 26, 2026
TTEC positions itself as a global CX technology and managed services leader combining TTEC Digital (technology, AI, cloud/CRM/CCaaS) and TTEC Engage (AI-enabled CX operations). Fiscal 2025 revenue was $2,137 million,…
10-Q · November 6, 2025
TTEC reported Q3 (ended Sept 30, 2025) revenue of $519,143 (amounts presented in the filing in thousands), down $10,284 from $529,427 in Q3 2024. Gross margin contracted to ~20.3% (cost of services $413,635) and…
10-K · February 27, 2025
TTEC positions itself as a global CX leader combining technology (TTEC Digital) and operations (TTEC Engage) with an explicit focus on AI, cloud migration and integrated CX offerings. The 10-K reports fiscal 2024…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.